Jean-Marc Huet, the company's chief financial officer, said: "Our business is very large in scale and reach, with operations in over a hundred countries. "The challenge that this poses for our auditors has been successfully met by PricewaterhouseCoopers over many years and we have always been impressed with the rigour and quality of their audit. "However, given changes in the regulatory environment and market expectations, it makes sense for Unilever to rotate its auditors at this time." [Sky News]
Related Posts
PwC Didn’t Do CME Group Any Favors
The CFTC’s action against PwC probably came as a result of a shocking CME Group announcement late Wednesday: “It now appears that the firm [MF Global] made … transfers of customer segregated funds in a manner that may have been designed to avoid detection.” These transfers, CME Group said, appeared to have taken place after its audit team showed up last week at MF Global to take a look and found everything to be in order. CME Group couldn’t have been hoodwinked like that if PwC had been doing its job all along. You can’t circumvent controls unless there are none or there are holes. It was PwC’s job to review controls and the adequacy of policies and procedures to support them. [Francine McKenna/AB, Earlier]
Some Partners at PwC Cyprus Did Not Want to Lose Their Russian Clients So They Started Their Own Firm
In March of this year, Deloitte Global posted a little message on its website about […]
Non-PwCer Totally Confused About What PwC Trust Solutions Really Is
A thread today on Fishbowl: That’s what PwC gets for giving its assurance and tax […]